Crypto Market Update October 9: Top Meme Coins Ready for Breakout: DOGS, PopCat, and First Neiro On Ethereum Leading the Charge

As the overall crypto market wrestles with regaining bullish momentum, meme coins and smaller altcoins are showing signs of a potential surge. Among the top contenders are First Neiro on Ethereum, PopCat, and DOGS, which appear primed for a bullish breakout despite the broader market conditions.

These trending coins, displaying promising patterns on their daily charts, hint at a possible rally this week. These assets may be worth considering for those watching the meme coin space as they prepare for potential breakout moves.

Meme Coins Poised for Breakout: DOGS 

Starting with DOGS, the 4-hour chart reveals a falling channel pattern. Despite this, the recent upward movement within the channel suggests that DOGS is on the brink of a breakout.

DOGSUSDT chart, Source: TradingView 

Using the trend-based Fibonacci retracement, DOGS is currently hovering around the 50 EMA (Exponential Moving Average) on the 4-hour chart. A bullish breakout from the overhead trendline could arm-twist the 50% Fibonacci retracement level at $0.001126. Should this breakout occur, DOGS can potentially seize the psychologically significant $0.0010 level again.

However, traders should exercise caution as the MACD (Moving Average Convergence Divergence) and signal lines are close to a bearish crossover, which could signal a potential pullback.

POPCAT 

Moving to PopCat, the daily chart indicates a triangle breakout that has since faced a minor pullback. After reaching $1.39, PopCat has posted three consecutive bearish candles, resulting in a 15% price decline over the past three days.

Despite the current downtrend, the 50 and 100 EMA continue to show a positive slope, signaling some underlying strength. However, the MACD and signal lines indicate a potential bearish crossover, warning of further downside.

POPCATUSD chart, Source: TradingView 

The Fibonacci retracement analysis suggests that PopCat’s breakout rally is reversing from the 1.618 level, now heading toward the 1.27 level at $1.16. If the bearish trend continues and breaks below this support, the coin may test the $1.00 psychological mark, where bulls could attempt to regain control.

NEIRO 

Neiro, a rising star on Ethereum, has been one of the most talked-about altcoins in the market. After a bullish pennant breakout, followed by a channel breakout, Neiro has surged by nearly 5000% over the last three weeks.

NEIROFUSD chart, Source: TradingView 

Currently priced at $0.001729, per CoinMarketCap data, NEIRO is experiencing a minor intraday pullback of 3.46%. According to the Fibonacci levels, NEIRO is facing resistance at the 100% retracement level, suggesting a consolidation phase may be underway.

For those wondering if First Neiro On Ethereum (NEIRO) will reach a new all-time high, Coinfomania’s price prediction for today may offer more insights.

The meme coin’s consolidation is supported at the 78.60% Fibonacci level, around $0.0015. A bullish breakout from this range could see NEIRO racing for the $0.0023 and $0.0033 levels. Conversely, if the support fails, the next key level to watch is $0.0013.

Now, here are the top gainers and losers today, per CoinMarketCap data.

Top Gainers

EigenLayer (EIGEN): EigenLayer leads today’s gainers with a 10.65% increase, trading at $4.02. This surge reflects growing investor confidence in Layer-2 solutions.

Chiliz (CHZ): Up by 8.22%, Chiliz continues to ride the wave of strong performance, now priced at $0.07238, driven by developments in the sports and entertainment token space.

Monero (XMR): Privacy-focused Monero is seeing a solid 4.55% rise, trading at $153.01 today, as privacy coins regain attention in the market.

Top Losers

Sei (SEI): Leading today’s losers, Sei is down by 8.22%, trading at $0.4177, likely due to increased selling pressure.

Worldcoin (WLD): Worldcoin has dropped by 7.04% to $1.83, facing challenges from regulatory concerns and bearish sentiment.

PopCat (SOL): Down by 4.59%, PopCat is trading at $1.18, experiencing significant volatility amidst profit-taking.